Show me the Money (3 minutes).
Over the coming weeks you can hear a lot of facts and statistics from both sides of the debate, presented in a way to suit their particular argument. It will be difficult to determine the truth. But if there is one thing I have learned about the truth, from business and politics, it is this; follow the money. Talk is cheap. Money talks. If people really mean something, they’ll put ./down their money.
You’re going to hear scare stories about how millions of jobs will be lost, as companies flee the U.K. and the ‘economic armageddon’ that will follow Brexit.
We’ve known for 3 years now that this referendum is coming up and that a vote for Brexit is a strong possibility. So if what the anti-Brexit brigade are saying is true, these big companies wouldn’t be spending any money on their UK operations, would they?
Well let’s take a look. In my industry alone;
- Bentley have announced £800m investment in new models, R&D and 1000 extra jobs.
- Aston Martin, just last week announced a new £200m factory in Wales, another 100 new jobs. Their CEO Andy Palmer said that Brexit had ‘no bearing’ on the decision.
- Jaguar Land Rover, in the last few months have announced £450m investment extending their factory in Wolverhampton,
- £450m in their Birmingham factory,
- £500m on a new R&D centre in Coventry
- £120m in Solihull. Clearly - they are ‘petrified’ of brexit [sarcasm].
- Toyota £100m in Derby, 1500 new jobs. CEO Mr Akio Toyoda said Brexit makes ‘no difference’ to Toyota’s plans.
- Vauxhall, £185m, 1200 jobs. CEO Tim Tozer said brexit won’t stop Vauxhall doing business here because it’s “unthinkable that the EU wouldn’t do a trade deal with the UK”.
- Nissan, £100m and a new model in their factory in Sunderland, Europe’s most productive car plant. That factory now produces more cars than the whole of Italy.
- Last week, Ford announced £240m for its factory in Wales, 600 new jobs.
- Honda, £200m in Swindon.
That’s £3.35bn in long-term investments from the automotive industry alone. Are these companies that are concerned about Brexit? Of course not, because anyone in business will tell you - you invest where there is growth, you invest where there are skills, you invest where there are natural resources, you invest where there is a business friendly culture and a dynamic economy. You invest in the UK, whether we are in the EU or not.
So next time you hear these scaremongerers doing our country down, you tell them - “show me the money!”.
References:
https://www.gov.uk/government/news/bentley-suv-prime-minister-welcomes-800-million-investment-and-1000-new-jobs
http://uk.reuters.com/article/uk-astonmartin-wales-idUKKCN0VX001
http://www.birminghammail.co.uk/news/midlands-news/jaguar-land-rover-reveals-giant-10707296
http://www.expressandstar.com/business/2015/11/24/jaguar-land-rover-to-invest-450-million-to-expand-wolverhampton-engine-plant/
http://www.express.co.uk/news/politics/633808/EU-referendum-Brexit-Toyota-Akio-Toyoda-Burnaston-jobs
http://www.bbc.co.uk/news/business-34136541
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